Recent corporate scandals raise an old question anew: is capitalism fundamentally infected by immorality? A now almost forgotten answer to this question was advanced at the dawn of capitalism, an answer that students of business ethics would find profit in considering. In the early eighteenth century, Bernard Mandeville authored The Fable of the Bees, which became notorious in its day for arguing that capitalism created wealth while necessarily relying on vicious impulses. The fundamental dilemma is that morality requires self-denial while (...) capitalism runs on self-interest. As such, Mandeville claims that business and ethics are essentially separate.While this would appear to align him with skeptics of business ethics, Mandeville does suggest a role for moral theorists in dealing with the challenges of commercial societies. The Mandevillean business ethicist proceeds by separating the public and private spheres. In the former, where government policy toward business is at issue, the Mandevillean ethicist applies a market-friendly utilitarianism. In the latter, where individual conduct is at issue, the Mandevillean gently articulates a market-critical ethic predicated on self-restraint. (shrink)

Like Bernard Mandeville, Archibald Campbell develops a profoundly egoistic conception of human psychology. However, Campbell attacks numerous points in Mandeville’s moral philosophy, in particular Mandeville’s treatment of self-love, the desire for esteem, and human nature in general as corrupt. He also criticises Mandeville’s corresponding insistence on self-denial and his rigorist conception of luxury. Campbell himself is subsequently attacked by Scottish orthodox Calvinists - not for his egoism, but for his optimism regarding postlapsarian human nature and self-love. This episode demonstrates that (...) the debates on egoism in Mandeville should be seen in the context of the debates on postlapsarian human nature. (shrink)

I explore Mandeville’s account of moral judgement and its implications for the understanding of hypocrisy. According to Mandeville, we have a psychological need to like ourselves sufficiently, so as to carry on with our lives. Because our self-liking necessarily depends on the opinions others form of us, we are extraordinarily sensitive to praise and condemnation. The practice of moral judgement exploits this sensitivity. Hypocrisy is an intrinsic element of this practice.